The deal - which was made for an undisclosed amount - includes worldwide rights to more than 700 episodes of the show, produced over 17 years.

Saban originally developed and produced Power Rangers from 1993. It is now looking to bring new episodes to Nickelodeon. It is cooperating with the original Japanese creator of the TV show - Toei - while it has also signed a toy and video games licence with Bandai America.

"Power Rangers is one of the world's leading children's entertainment properties and we are delighted to see its return," Saban said in a statement. It added that the show promotes teamwork, responsibility and the importance of helping others.

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